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GM, Chrysler dealer cuts called essential
GM, Chrysler dealer cuts called essential
Posted Thursday, Jun 4, 2009, 2:52 pm in Employee News
Top executives at General Motors Corp. and Chrysler LLC told a Senate committee Wednesday that their decisions to cut thousands of dealerships were essential to the companies’ survival and the blow to dealers would be cushioned, the Detroit Free Press reported.
Still, the automakers were confronted with complaints from several senators, who have been flooded with calls from worried dealers contending the moves kill jobs, can’t be justified for business reasons and will hurt the automakers in the long run, the Free Press said.
The hearing reflects a growing unease on Capitol Hill about the speed and scale of the transformations GM and Chrysler have pursued in bankruptcy under the Obama administration’s watch, the paper said. More hearings are scheduled next week on the rescues, and Senate Republicans have proposed allowing Congress to vote on the government investments in the auto industry, the story said. (Detroit Free Press)
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Rick
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